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Friday 17 August, 2018
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Home Regulation and Ethics Publication of the Fit and Proper Requirements for Financial Services Providers 2017...

Publication of the Fit and Proper Requirements for Financial Services Providers 2017 in South Africa

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Nicole Britton, Johann Spies and Ernie Van Der Vyver

Publication of the Determination of Fit and Proper Requirements for Financial Services Providers 2017 in South Africa

On 15 December 2017, Caroline Da Silva, in the capacity as Deputy Registrar of Financial Services Providers, published the Determination of Fit and Proper Requirements for Financial Services Providers 2017 (“Fit and Proper Requirements 2017“). This can be accessed here.

Inter alia, the Fit and Proper Requirements 2017 repeals the existing notice on the Determination of Fit and Proper Requirements for Financial Services Providers, published by Board Notice 106 of 2008; Section 53 sets out when specific sections of the Fit and Proper Requirements 2017 will come into operation; and Chapter 7 sets out certain transitional provisions relating to experience and qualifications.

The Fit and Proper Requirements 2017 will take effect on 1 April 2018.